IB Support dont know if orders will work for negative Crude oil prices

[HobbyTrading]

does IB Gateway accept negative price orders even if TWS does it ?

Gateway does not check or validate any order lines that are sent through it via the API. Gateway only functions as a pass-through between the client and IB's servers. If IB's servers accept an order line coming from TWS then they will also accept it from Gateway.

 

[Daniel.a]

This should be enough evidence, negative prices are supported:

View attachment 226420

Thanks Narafa, yes that would be evidence that you can place a limit order on TWS.

But since i am using IB Gateway and question also relates to all order types (any difference?)
And since IB support told me that negative prices work or not working in TWS papertrading but would not indicate if it would work in real trading.. and other agent told me something else.

I think i am still very much in assumption land still, until perhaps IB responds.

Perhaps its very clear for most others, and thats good, however for me, i am still in assumption territory.

Thanks for input Narafa though..

Cheers

 

[narafa]

Thanks Narafa, yes that would be evidence that you can place a limit order on TWS.

But since i am using IB Gateway and question also relates to all order types (any difference?)
And since IB support told me that negative prices work or not working in TWS papertrading but would not indicate if it would work in real trading.. and other agent told me something else.

I think i am still very much in assumption land still, until perhaps IB responds.

Perhaps its very clear for most others, and thats good, however for me, i am still in assumption territory.

Thanks for input Narafa though..

Cheers

They responded already, confirming that negative prices are working for both TWS and the gateway. Good luck

 

[Daniel.a]

Yes as shown above negative pricing is supported on TWS. The gateway, as well.

@def

So you can certify that no matter version of IB gateway you will be able to enter a position while negative and get out or going into negative price and close position?

And you can do this on all ordertypes?

Thanks @def

This would provide much needed certainty, IB support staff yesterday told me it does not work and other one said yes it will work, hence i am asking here.

Cheers

 

[narafa]

good.

how about trying on other products like milk futures, bond, stocks, index futures ...?

No, only designated energy futures are allowed negative (Including HO, RB, CL, BZ, etc...).

Rest are still floored at 0 or the minimum tick above 0 actually.

 

[Daniel.a]

Yes as shown above negative pricing is supported on TWS. The gateway, as well.

BTW, kicking support is easy but you do realize it is a little difficult to get word out on all items and for all CS staff to read every update on every contract when we offer hundreds of thousands of products around the world. We have CS staff in no less than 10 locations that I can think of off hand as we run 24 hours during the week. On top of that, a large chunk are being forced to work from home and don't have the same level of access they are accustomed.

@def

Thanks,

Btw not kicking support at all, i actually like the services you provide and appreciate your support.
However getting different responses can be a bit confusing. I do understand the difficult situation though, hence me trying reaching our here.

Cheers

 

[def]

@def

Thanks,

Btw not kicking support at all, i actually like the services you provide and appreciate your support.
However getting different responses can be a bit confusing. I do understand the difficult situation though, hence me trying reaching our here.

Cheers

Not a problem and yes, we need to do better in terms of getting staff to contact those who have info when uncertain but that's easier said than done at times - especially in the current environment.

 

[RedDuke]

We made a decision to stop trading oil should it get into $5 region. We trade fully algorithmic and do not want weird surprises. We will just shut down oil algos if it gets this low.

 

[ZBZB]

We made a decision to stop trading oil should it get into $5 region. We trade fully algorithmic and do not want weird surprises. We will just shut down oil algos if it gets this low.

The BP CEO said Cushing was 70% full but the Saudis have 25 oil tankers approaching the US.